Remortgage: current lender or broker?

[MrsWhirly]

We are wanting to move after 10years at our current property. This will mean almost doubling our current mortgage balance. I am employed, DH self-employed.

Should I go straight to broker, or ask our current lender Santander?

Many thanks.

Just go online and look for the a deal, brokers will rip you off. Building societies are usually the best.

Thank you.

I’m unsure what we can borrow - I don’t want to undergoe unessary credit checks.

Broker. When we moved and therefore remortgaged, the broker was invaluable. Helped us go through the options and evaluate them. Liaised with lender throughout the drawn out process of moving. We used a broker when we previously remortgaged without moving too.

They charge around £350 and worth every penny. Our broker made moving less stressful.

Make sure you get one who has whole market access.

If your partner is SE then I'd say broker every time.

I'd do some research first - see what deals are available online, then see if your current lender can match it, it's just a quick phone call. If they can't get close then go with a broker.

@MrsWhirly I’m unsure what we can borrow - I don’t want to undergoe unessary credit checks.

You won't at the early stage. You'll fill in a form for the broker and they'll review the market and come back with options. Only if you decide to proceed and go through to the lender's formal application will credit checks come into play.

But again, a good broker can advise what the chances are based on your circs, and should advise the right mortgage for them.

(Dunno what a pp was on about "ripping you off". I went to one, cost me £0, got a brilliant rate I couldn't find anywhere on the lender's public facing site/comparison sites, and did all the legwork for me. Also got very good advice about which lenders took longer than others etc. They got paid about £500 referral fee from the lender I think, which was clearly marked on the paperwork. My existing lender couldn't even come close either)

Ooh, thank you for the fab advice all! Most helpful. X

I am self employed and my mortgage is with Santander.

Brokers are good for more difficult mortgages. If it is straightforward and you meet affordability criteria there is no point in my opinion.

Phone Santander and go through the figures. There wont be a credit check atvthat stage.

Try Coventry, Nationwide and YBS. Good luck.

Broker! Ours was invaluable and saved us quite a chunk of money.